News from Hamburg: The tokenization platform Finexity enters into a strategic partnership with Sparkasse Bremen a. This was announced by the fintech BTC-ECHO in advance. Specifically, the cooperation revolves around the savings bank marketplace “Real Asset Invest”, on which customers of the bank can purchase tokenized assets. The infrastructure comes from Finexity, explain the founders Paul Huelsmann and Henning Wagner in an interview with BTC-ECHO.
A kindergarten with three integrated residential units is initially planned as a kick-off project. This will initially be offered via the Sparkasse’s marketplace and later also via the Finexity sales platform. According to CEO Paul Huelsmann, this enables faster and more cost-effective placement, since the product is offered to two customer groups. More such co-placements are to be made in the future.
Finexity offers tokenized real assets for everyone
At a time when rising inflation rates, the pandemic and the war in Ukraine are weighing on the global financial markets, many financial advisors recommend buying tangible assets such as real estate or art. Under the current market conditions, however, these can hardly be financed by most citizens. A problem that the Hamburg fintech Finexity wants to solve with its investment platform.
Specifically, it is about the tokenization of tangible assets. With the power of the blockchain, the Hamburg fintech wants to enable its customers to purchase shares in real estate, art, diamonds or even vintage cars from an investment sum of 500 euros. According to its own statements, the platform can represent the entire value chain of digital assets – from structuring and tokenization to the primary and secondary market and custody. Huelsmann explains that this is a unique selling proposition throughout Europe and the demand is correspondingly high:
In terms of volume, real estate is very popular with us because this is where I generate cash flow that I can distribute and trade on the secondary market. Second, we see a high demand for art objects because it’s a market that has performed extremely well over the last few years.
But diamonds are also very popular with Finexity customers. This is a sector in which hardly any investor is familiar, but which has performed very stable in value over the past few years. “The customers appreciate our expertise,” says Huelsmann.
Fintech relies on Ethereum
Finexity uses the Ethereum blockchain as the technical basis for its own infrastructure. The ecosystem, in particular the stability of the platform, convinced the founders, explains CTO Henning Wagner. In addition, work is currently being done on connecting other blockchains:
However, we are currently in the process of connecting other blockchains in order to expand our portfolio technically. Especially in the area of swapping. There are some chains that are currently extremely interesting for us.
The focus is currently on Stellar, also due to a strategic partnership. Further details cannot be revealed at the moment, says Wagner.
“First quarter a success so far”
The business model seems to be going down well with investors. Finexity was already able to expand its product range last year. The range now includes around 75 products. In addition, attempts are being made to connect other marketplaces, such as that of the Sparkasse, to their own platform.
The company has also grown. The Hamburg fintech has 42 employees – almost half work in the finance sector. In an interview with BTC-ECHO, Wagner is satisfied:
We release an average of about 2.4 products each week. That’s a good cadence. We are currently in the process of connecting a new partner to our SaaS platform or launching a new marketplace every month, so that we will have around ten marketplaces by the end of the year.
In addition, there is an exchange with other sales partners. This includes banks, but also broker pools. They are likely to follow developments in the partnership with Sparkasse Bremen closely. In a way, it is a blueprint for further cooperation in order to expand your own customer base.
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